slightly different from the same period of the year 2019 because there is income obtained from the dividend paid by the joint 2 venture in the 3 months period of the year 2019 for 1.41 million baht. The

amount of Baht 2,607 Million and (5) dividend received in the amount of Baht 494 Million. The Company and its subsidiaries utilized cash of Baht 2,740 Million from financing activities due to (1) repayment

revenue over 30 years starting from 1Q19. Additionally, the Company also invested in 20% shareholding in SPRIME amounting to THB 893.5m and would be eligible to receive dividend accordingly. Significant

of the 1Q19-3Q19 accumulated net profits of Bt438.53mn. and the interim dividend payment of Bt499.20mn. 4 Forth Smart Service Public Company Limited (FSMART) 3Q19 Management Discussion and Analysis Key

Million and revenue from commercial development business increased by Baht 32 Million. Other income amounted to Baht 240 Million increased by Baht 224 Million from the record of dividend income from TTW

%) Other Income 1 1 0% Selling and distribution expenses (75) (76) 1% Administrative expenses (42) (43) 2% Finance Cost - (4) n.a. Profit before income tax expenses 72 15 (79%) Tax expenses (12) (2) (83

- Translation - Page 1 of 6 CBG 042/2017 11 August 2017 Subject Payment of interim dividend and management discussions and analysis for the 3-month and 6-month periods ending 30 June 2017 To

. A decrease in shareholder’s equity amount to THB 25.0 MB by the resolution passed at the board meeting for dividend payment’s approval in which amount to THB 67.6 MB and increase in net profit on year

overall sales volume, the Company and its subsidiaries brought 1.6% growth of Gross profit margin versus 2017 by the strong contribution of Epicerol® business. 2. In 2018, distribution costs, administrative

Management Discussion and Analysis Analysis of Overall Performance The distribution business of the plastic resins, plastic, and petrochemical related products needs relatively high working capital. The key